Cardano suffers blockchain split as developer admits fault and FBI investigates $15B crypto network incident Cybernews
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Crypto Market News: From Blackrock chief executive officer Larry Fink calling Bitcoin “an index of money laundering” in 2017, the world’s largest asset manager came a long way in terms of crypto market adoption. Later, Blackrock made a turnaround and decided to form a working group to study crypto and blockchain technology. This turnaround is akin to JP Morgan CEO Jamie Dimon’s skepticism on the crypto assets. Yet, the Wall Street bank continues to build products around crypto and web 3.0.
Also Read: Rug Pull Alert: List Of Altcoins Celsius Network Will Sell On July 1st
Mainstream financial companies have all initially been resistant to cryptocurrencies. However, it is argued that the Wall Street giants would like to have significant share in the crypto market before the United States regulators lay out clear rules for the industry.
Blackrock Vs Bitcoin
Cardano founder Charles Hoskinson criticized the Bitcoiner community’s welcoming of the Blackrock Bitcoin ETF application. This is apparently because Blackrock represents a massive chunk of traditional businesses whose values are not aligned to the vision behind Bitcoin philosophy, which is decentralization. He said,
“Bitcoiners defending Blackrock is all you need to know about their ethics, mental state, and greed.”
Meanwhile, it remains to be seen if and when the U.S. Securities and Exchange Commission (SEC) would take a decision on the Bitcoin ETF application. An approval mean massive inroads to mainstream adoption of the crypto market, considering the wide range of portfolio companies Blackrock manages.
Also Read: Bakkt Delists Cardano, Polygon and Solana on Regulatory Grounds
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Not the Fault of Tornado Cash Developers, According to Cardano Founder – The Coin Republic
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Cardano developer Adam Dean has confirmed that the network’s testnet is experiencing a critical bug. The foundation is still rushing to find this disaster recovery tool before the upcoming hard fork of Vasil.
In a recent Twitter thread, Adam Dean, one of the most prominent Cardano developers, has warned that the blockchain’s testnet is “catastrophically” broken due to a recently discovered bug.
(1/n) It’s important to point out today that the #Cardano #Testnet is **catastrophically** broken due to a bug in Cardano Node v 1.35.2. This was the version that we had previously been told was “Tested and Ready” for the Vasil Hardfork. This bug was only discovered…
— Adam Dean (@adamKDean) August 18, 2022
Version 1.35.2, which was supposed to be used for the upcoming Vasil hard fork, contained a critical bug that was discovered because stake pool operators rushed to upgrade on the mainnet, and it led to the creation of incompatible forks.
Even though the vulnerability has been discovered, the testnet remains broken due to the fact the lion’s share of SPOs upgrading their nodes to version 1.35.2 in order to simulate a Vasil hard fork combinator event. Version 1.35.3, which was introduced earlier this week, is not capable of syncing the chain, and it is now being tested on two new testnets that do not have any block history.
(3/n) however, Testnet is still broken, due to the majority of operators having upgraded to 1.35.2 on testnet to simulate a Vasil HFC event there, 1.35.3 is now incompatible and incapable of syncing the chain, legacy installations are still on one fork or another…
— Adam Dean (@adamKDean) August 18, 2022
Many community members have expressed their frustration with the technical hiccups.
“This is unacceptable for a blockchain that has built its reputation on the robustness of its research and technology,”
A Twitter user wrote
Dean adds that it would be an “understatement” to say the seemingly rushed rollout gives him an “uneasy feeling”. He has urged Input Output and CEO Charles Hoskinson to deploy the tooling that would be needed for a disaster recovery plan.
The upgrade, which was originally scheduled for late June, has now been postponed several times due to technical difficulties.
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Original Source: https://news.coincu.com/118424-cardano-tesnet-has-a-fatal-fault/
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